Viswanath Pilla
Moneycontrol News
Surat-headquartered drug maker Zota Healthcare, which will be selling shares on NSE’s Emerge platform as part of its initial public offering (IPO) on April 27, said it will be using proceeds from the offer sale to acquire over-the-counter (OTC) vitamin brands.
NSE’s Emerge is a trading platform for small and medium enterprises.
Zota said it is planning to spend around Rs 10-12 crore on the acquisition of OTC brands, without disclosing the names of the companies with whom it is in talks.
Zota on Thursday announced pricing of its initial public offering of 46,80,000 equity shares with a face value of Rs 10 per share at a price band of Rs 121-125. It plans to raise around Rs 18-20 crore.
The company said it would use a part of proceeds for working capital requirements.
The offer consists of fresh issue of 31,80,000 equity shares and offer…